REG - Hammerson PLC - Cash Fractions for the Enhanced Scrip Dividend

HammersonAnnouncement

06/10/2022 10:15

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RNS Number : 9488B  Hammerson PLC  06 October 2022

 

THIS ANNOUNCEMENT (AND THE INFORMATION CONTAINED HEREIN) IS NOT FOR RELEASE,
PUBLICATION, DISTRIBUTION OR FORWARDING, DIRECTLY OR INDIRECTLY, IN WHOLE OR
IN PART, IN, INTO OR FROM  ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A
VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION.

 

FOR IMMEDIATE RELEASE

 

Hammerson plc (the 'Company')

 

Interim 2022 Dividend and Enhanced Scrip Dividend Alternative

 

Cash Fraction Applicable to the Enhanced Scrip Dividend Alternative

 

6 October 2022

Further to the announcements released on 28 July 2022, 27 September 2022, and
28 September 2022, Shareholders are further advised of the below.

 

Fractions applicable to the Enhanced Scrip Dividend Alternative:

Shareholders on the UK Register

No fraction of a New Share will be issued to Shareholders on the UK Register.
Entitlements to New Shares of Shareholders on the UK Register who elect for
the Enhanced Scrip Dividend Alternative will be rounded down to the nearest
whole number of New Shares. Entitlements to fractions of New Shares will be
paid to Shareholders who elect for the Enhanced Scrip Dividend Alternative in
cash based on the value of the Enhanced Scrip Dividend Alternative. Such
entitlements will be paid in the same way as the cash dividends are paid for
the Interim 2022 Dividend.

Shareholders on the South Africa Register

No fraction of a New Share will be issued to Shareholders on the South Africa
Register.

Shareholders on the South Africa Register cannot accumulate residual
entitlements or receive a fraction of a New Share. Where you have made an
election to participate in the Enhanced Scrip Dividend Alternative, which
would otherwise give rise to an entitlement to a fraction of a New Share, the
number of New Shares to be received will be rounded down to the nearest whole
number of New Shares, and any residual entitlement which is less than the
price of one New Share will be paid to you in cash in Rand.

The cash fractional payment for Shareholders on the South Africa Register is
to be determined with reference to the volume weighted traded price on the
Johannesburg Stock Exchange ("JSE") on Wednesday, 5 October 2022 (being the
date on which the Shares began trading on the JSE ex the cash dividend or
Enhanced Scrip Dividend Alternative) of 385.00 ZAR cents, discounted by 10%
("South Africa Fractional Reference Price"). Shareholders are accordingly
advised that the South Africa Fractional Reference Price is 346.50 ZAR cents
(385.00 ZAR cents discounted by 10%).

South African Taxation

The cash fractional payment is regarded as a dividend for South African tax
purposes and will be subject to dividends tax to the extent that it is
declared in respect of a share listed on the JSE. South African Dividends Tax
at the rate of 20% will be withheld from such cash dividends paid to
individuals, therefore the net fractional rate will be 277.20 ZAR cents.
Shareholders are advised to seek their own tax advice from an independent tax
adviser should they be in any doubt as to the tax treatment for them of any
cash fractional payment.

A summary of how UK Shareholders and South Africa Shareholders are likely to
be treated for tax purposes is set out in Section 2 of the Guide containing
the terms and conditions of the Enhanced Scrip Dividend Alternative, which is
available on the Company's website,
https://www.hammerson.com/investors/dividend/scrip-dividend
(https://www.hammerson.com/investors/dividend/scrip-dividend) .

Unless otherwise stated, capitalised terms in this announcement shall have the
meanings given to them in the Circular dated Wednesday, 28 September 2022 in
connection with (amongst other things) the proposed Interim 2022 Dividend and
Enhanced Scrip Dividend Alternative which can be found at:
https://www.hammerson.com/investors/dividend/scrip-dividend
(https://www.hammerson.com/investors/dividend/scrip-dividend) .

 

 Registered Office  UK Registrars          SA Transfer Secretaries
 Kings Place        Link Group             Computershare Investor

 90 York Way        10(th) Floor           Services Proprietary Limited

 London             Central Square         (Registration number

 N1 9GE             29 Wellington Street   2004/003647/07)

 United Kingdom     Leeds                  1st Floor, Rosebank Towers

                    LS1 4DL                15 Biermann Avenue,

                                           Rosebank, 2196

                                           South Africa

                                           (Private Bag, X9000, Saxonwold 2132 South Africa)

 

For further information contact:

 

Josh Warren

Director of Strategy and Investor Relations

Tel: +44 20 7887 1053

josh.warren@hammerson.com

 

The announcement above has also been released on the SENS system of the
Johannesburg Stock Exchange and on Euronext Dublin.

 

This announcement is for information purposes only and is not intended to, and
does not, constitute or form part of any offer to sell or issue, or the
solicitation of an offer to purchase, subscribe for or otherwise acquire any
securities of the Company, whether pursuant to this announcement or otherwise.

 

The New Shares have not been and will not be registered under the United
States Securities Act of 1933, as amended (the "US Securities Act"), or with
any securities regulatory authority or under the relevant laws of any state or
other jurisdiction of the United States, and may not be offered, sold, taken
up, exercised, resold, pledged, renounced, transferred or delivered, directly
or indirectly, into or within the United States, except pursuant to an
applicable exemption from, or in a transaction not subject to, the
registration requirements of the US Securities Act and in compliance with any
applicable securities laws of any state or other jurisdiction of the United
States. There has been and will be no public offering of the New Shares in the
United States.

 

The release, publication or distribution of this announcement in jurisdictions
outside the United Kingdom, the Republic of Ireland and South Africa may be
restricted by law and, therefore, persons into whose possession this
announcement comes should inform themselves about, and observe, such
restrictions. Any failure to comply which such restrictions may constitute a
violation of the securities law of any such jurisdiction.

 

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